British multinational retailer Marks & Spencer (M&S) said on Wednesday that it had begun talks with one of its long-time partners Al-Futtaim, to sell the franchise of its retail business in Hong Kong and Macau, a move it expects to create a more “profitable and customer-centric International business”.
The talks followed the British retailer’s strategic review of its international business in November last year that led to the closure of numerous stores in 10...

Shares of China Evergrande Group rose to a fresh all-time high on Wednesday as Chinese Estates Holdings, controlled by Hong Kong tycoon Joseph Lau Luen-hung’s wife Kimbie Chan Hoi-wan, continued to build a stake in the property giant.
An announcement by Chinese Estates on Monday night showed it had bought another 111 million shares in Evergrande between July 19 and August 29, making its total interest 5.83 per cent. It also said Chan personally held 35 million shares or 0.27 per cent of...

In a pilot scheme introduced to 13 Chinese big cities, farmers will for the first time be allowed to develop their collectively owned land into residential properties for leasing, in another government move to stabilise housing prices and bolster the rental market.
The pilot scheme, announced on Monday evening by the Ministry of Land and Resources and Ministry of Housing and Urban-Rural Development, will cover cities like Beijing, Shanghai, Hangzhou and Guangzhou where the sizable population...

Hong Kong’s love affair with tiny flats shows no sign of cooling, with two more projects releasing pricing details this week before going on the market starting from the weekend.
The two projects, CSI Properties’ COO Residence in Tuen Mun and The Amused in Cheung Sha Wan, which is built by Emperor International and the Urban Renewal Authority, are the latest to cater to growing demand for small units, known locally as “nano flats”, as sky-high prices prevent many...

Richard Ong, chairman of Asian-based private equity fund RRJ Capital, sees himself as the man with the Midas touch. Now he wants to repeat his success with Hong Kong property developer Lai Sun Development.
The former Goldman Sachs banker has made huge gains from two Hong Kong-listed mainland property stocks – CIFI Holdings and Logan Property Holding.
In October 2013, RRJ invested in CIFI, which primarily invests in Shanghai, with an entry price of HK$1.52. The stock closed down 0.7 per...